Strategy Inc (MSTR)

Strategy Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	462.32	463.46	496.26	499.26	510.76	480.74
Revenue Growth (YoY)	-3.81%	-6.61%	-0.60%	-2.25%	6.25%	-1.15%
Cost of Revenue	138.24	129.47	109.94	102.99	91.91	91.06
Gross Profit	324.08	333.99	386.32	396.28	418.85	389.68
Selling, General & Admin	278.39	278.62	264.98	258.3	255.64	229.05
Research & Development	107.49	118.49	120.53	127.43	117.12	103.56
Other Operating Expenses	-6,723	1,790	115.85	1,286	830.62	70.7
Operating Expenses	-6,337	2,187	501.36	1,672	1,203	403.31
Operating Income	6,662	-1,853	-115.05	-1,276	-784.53	-13.63
Interest Expense	-69.6	-61.94	-48.96	-53.14	-29.15	-
Interest & Investment Income	-	-	-	-	-	0.71
Currency Exchange Gain (Loss)	-11.7	2.9	-5.6	6.2	2.5	-7.6
Other Non Operating Income (Expenses)	0.61	0.61	0.4	0.21	-0.21	0.56
EBT Excluding Unusual Items	6,581	-1,911	-169.21	-1,322	-811.39	-19.95
Other Unusual Items	-22.93	-22.93	44.69	-	-	-
Pretax Income	6,558	-1,934	-124.53	-1,322	-811.39	-19.95
Income Tax Expense	1,765	-767.69	-553.65	147.33	-275.91	-12.43
Net Income	4,792	-1,167	429.12	-1,470	-535.48	-7.52
Net Income to Common	4,734	-1,167	429.12	-1,470	-535.48	-7.52
Shares Outstanding (Basic)	238	193	137	113	100	97
Shares Outstanding (Diluted)	254	193	166	113	100	97
Shares Change (YoY)	53.26%	16.23%	46.33%	12.98%	3.47%	-6.24%
EPS (Basic)	19.90	-6.06	3.14	-12.98	-5.34	-0.08
EPS (Diluted)	18.82	-6.06	2.64	-12.98	-5.34	-0.08
Free Cash Flow	-133.63	-66.51	9.77	0.73	91.13	49.97
Free Cash Flow Per Share	-0.53	-0.34	0.06	0.01	0.91	0.52
Gross Margin	70.10%	72.06%	77.85%	79.37%	82.01%	81.06%
Operating Margin	1440.89%	-399.82%	-23.18%	-255.53%	-153.60%	-2.83%
Profit Margin	1023.99%	-251.73%	86.47%	-294.39%	-104.84%	-1.57%
Free Cash Flow Margin	-28.90%	-14.35%	1.97%	0.14%	17.84%	10.39%
EBITDA	6,676	-1,847	-108.62	-1,269	-775.87	-0.29
EBITDA Margin	1444.03%	-	-21.89%	-254.25%	-151.90%	-0.06%
D&A For EBITDA	14.5	5.51	6.43	6.37	8.66	13.33
EBIT	6,662	-1,853	-115.05	-1,276	-784.53	-13.63
EBIT Margin	1440.89%	-	-23.18%	-255.52%	-153.60%	-2.83%
Effective Tax Rate	26.92%	-	-	-	-	-
Revenue as Reported	462.32	463.46	496.26	499.26	510.76	480.74
Advertising Expenses	-	-	-	-	1.2	0.1

Updated Jul 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q